MB0051-Legal Aspects of
MBADS / MBAN2 / MBAHCSN3 / MBAFLEX –
PGDENMN /PGDFMN/ PGDHRMN / PGDHSMN
/ PGDIB /
PGDISMN / PGDMMN / PGDOMN / PGDPMN
/PGDROMN / PGDSCMN / PGDTQMN – (SEM 1)
SUBJECT CODE & MB0051-Legal Aspects of Business
Note: Answer all questions. Kindly note that answers for 10 marks
questions should be approximately of 400 words. Each question is
followed by evaluation scheme.
1 “Discharge refers to the termination of contractual relationship
between the parties”. Explain the statement along with different modes
of discharging a contract.
Answer : Discharge of a contract occurs when the main obligations of a
contract end. The ending of this contract entails a termination of a contractual
relationship. Yet parties may terminate a contract even when they do not
fulfill to the end the primary obligations required by a contract. Thus, the
main difference between discharge and termination of a contract is the
conditions under which a contractual relationship ends. A very thin line
differentiates these two actions.
A Contract is said to be discharged when the rights and
2 Explain the meaning of Power of Attorney, its types and clause related
Answer : A power of attorney is a document by which a person (called the
principal or donor) appoints another (the attorney or donee) as their
representative for certain purposes. A person travelling overseas may, for
instance, grant a power of attorney to a relative or friend who can then access
the traveller’s bank to pay his or her bills. A power of attorney can also be
useful where a person becomes ill or incapacitated and
3 Explain the procedure of registration of partnership firms.
Answer : The law relating to a partnership firm is contained in the Indian
Partnership Act, 1932.
Under Section 58 of the Act, a firm may be registered at any time ( not
merely at the time of its formation but subsequently also ) by filing an
application with the Registrar of Firms of the area in which any place of
business of the firm is situated or
4 What are the circumstances under which breach of condition is treated
as breach of warranty?
Answer : Unless a different intention appears from the terms of the contract
stipulations as to time of payment are not deemed to be of the essence of a
contract of sale. Whether any other stipulation as to time is of the essence of
the contract or not depends on the terms of the contract.
(2)In a contract of sale " month " means prima, facie calendar month.
5 Explain the procedure for filing a complaint and admission of
complaint in consumer protection act.
Answer : PROCEDURE FOR FILING COMPLAINT:
A complaint can be filed by a complainant against the seller,
manufacturer, or dealer of goods which are defective or against the provider
of services, if they are deficient in any manner whatsoever. An unfair trade
practice or restrictive trade practice can also invite complaint.
A complainant can be a:A.
Consumer to whom such goods are sold or delivered or agreed to be
sold or delivered or such service provided or agreed to be provided;
6 Write short notes on:
a) Shares and its classification
Answer : The different types of company shares are usually defined within
the articles of association or by the lodgement of an appropriate statement,
resolution or agreement. Different share classifications will confer different
rights to the holder with regards to dividends, voting rights and winding up
provisions. Some example of well known share categories can be seen below:
b) Meetings and its classification
Answer : There are different types of meetings. Each type requires a different
structures and supports a different number of participants. For instance, a
status (feedforward) meeting has no limit to the number of participants while
a decision-making meeting produces results faster with a small number of
If you want to help your teams have more effective meetings, set the
participants expectations about the meeting by stating in the agenda –
Solved Assignments Available : 9.5
years of Experience
Falling short to meet an important deadline... Cannot understand the assignment/essay
questions… Need to do shift… Cannot buy time to write your thesis… Then you are reading the
right post :) ...
India Contact Number :
More Info, Kindly visit smumbaassignment.com
Best Regards, Admin
+974 55702886, +966 546976607